Yesterday, Commissioner William R. Haraf announced that he will be leaving the Department of Financial Institutions at the end of this week. Former Governor Schwarzenegger appointed him to the post in 2008. California's profile as a financial...
Teveia Barnes Appointed To Succeed DFI Commissioner William Haraf
Posted on March 13, 2012
FINRA's Suitability Rule Is No Match For California's Rule
Posted on March 12, 2012
FINRA's New Rule
CFL Annual Report Form Presents A Subterranean Problem For DOC
Posted on March 09, 2012
Every person who was licensed under the California Finance Lenders Law as of December 31, 2011 must file an annual report with the Department of Corporations. The report is due on or before March 15, 2012. Cal. Fin. Code § 22159(a). The Department...
Why The Word "Includes" Conflates The Separation Of Powers
Posted on March 08, 2012
There are many ways to define a term. Many definitions are "intensional definitions". An intensional definition lays down all of the properties required to meet that definition. For example, Corporations Code Section 185 provides that "Shareholder"...
Ban On Corporate And Union Contributions To Candidates Qualified For The November Ballot
Posted on March 07, 2012
In December, California Secretary of State Debra Bowen announced that she has certified the first initiative for the November 6, 2012, presidential election ballot. Among other things, this initiative would ban corporations, labor unions and public...
Nevada Supreme Court Clarifies Status of LLC Charging Orders
Posted on March 06, 2012
Last week, the Nevada Supreme Court analyzed the rights of a judgment creditor of a member/manager of a limited liability company. In Weddell v. H2O, Inc., 2012 Nev. LEXIS 26 (March 1, 2012), the court reviewed the development of Nevada's LLC...
Past as Prologue: Bill Proposes Streamlined Permit Review Troika
Posted on March 05, 2012
A few months after I joined the Business, Transportation & Housing Agency, a major earthquake struck the San Fernando valley. Fifty-seven people lost their lives and thousands were injured. Property damage was extensive and five highway bridges...
Elimination Of Exception's Exception For Listed Companies Is In The Offing
Posted on March 02, 2012
While many were thinking of love on Valentine's Day, Assembly member Bob Wieckowski's thoughts were turned to dissenters' rights; for on that day he introduced AB 1680. This bill would eliminate an exception to an exception from the definition of...
Digital Collaboration In Entity Formation May Soon Come To Nevada
Posted on March 01, 2012
Earlier this week, Nevada Secretary of State Ross Miller announced an invitation for bids to produce a comprehensive review of legal requirements for a digital model operating agreement for limited liability companies. Never having heard of a...
